UK economic woes government borrowing increases
Among many other organisations, the CBI and ONS have both revealed statistical reasons for us not to be cheerful about the ongoing state of the UK economy.
Among many other organisations, the CBI and ONS have both revealed statistical reasons for us not to be cheerful about the ongoing state of the UK economy.
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Investment demand for gold weakened 23% in the second quarter year-on-year, although this was partially offset by acceleration in buying from central banks.
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Foreign sales by S&P 500 companies have continued to slow, with latest figures showing that 46.1% were derived from outside of the United States in 2011.
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UK GDP growth shrunk 0.7% in the second quarter, according to preliminary estimates released today from the Office for National Statistics (ONS).
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In a great day for TLAs, CPI, RPI and the IMF’s forecast for UK GDP have all dropped dramatically.
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Chinese GDP growth slowed to 7.6% year-on-year in Q2, down from 8.1% in the previous three months, representing the country’s sixth consecutive quarter of slowing economic growth.
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Although conditions have gotten tougher as the year has progressed, equities should still outperform in 2012, according to BlackRocks senior advisor Bob Doll.
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The global debt crisis is impossible to cure with more debt, while treatment through default and the printing of more money would be poison for bond and equity holders, says Pimcos Bill Gross.
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The Federal Reserve has extended Operation Twist and is to spend a further $267bn on long-dated securities by the end of the year.
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George Osborne and Mervyn King both took on the banks in their Mansion House speeches last night, with King unveiling £80bn in new loans available while Osborne offered taxpayers further protection against any future bank bailout.
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Markets rallied this morning on news of a 100bn (£81bn) eurogroup-backed bailout for Spain, announced over the weekend. But sceptics were already scoffing at what was seen as a short-term boon given continued underlying weaknesses.
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The first cut to the Chinese one-year benchmark lending and deposit rates since December 2008 has provoked a largely positive response from investment commentators, who reasoned that it signifies the authorities are serious about supporting the economy.
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